Atlassian Co. (NASDAQ:TEAM) CTO Rajeev Bashyam Rajan Sells 5,172 Shares of Stock

Atlassian Co. (NASDAQ:TEAM) CTO Rajeev Bashyam Rajan sold 5,172 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $190.00, for a total value of $982,680.00. Following the sale, the chief technology officer now owns 204,109 shares in the company, valued at approximately $38,780,710. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Rajeev Bashyam Rajan also recently made the following trade(s):

• On Friday, August 16th, Rajeev Bashyam Rajan sold 199 shares of Atlassian stock. The stock was sold at an average price of $146.08, for a total value of $29,069.92.

Atlassian Trading Up 1.7 %

NASDAQ:TEAM opened at $187.06 on Friday. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The stock’s 50 day simple moving average is $158.96 and its 200-day simple moving average is $172.04. The firm has a market cap of $48.64 billion, a P/E ratio of -161.26 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.07. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. Atlassian’s revenue was up 20.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.21) EPS. Equities analysts anticipate that Atlassian Co. will post -0.58 EPS for the current year.

Hedge Funds Weigh In On Atlassian

A number of large investors have recently modified their holdings of the business. First Trust Direct Indexing L.P. boosted its stake in shares of Atlassian by 1.5% in the first quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock valued at $721,000 after buying an additional 55 shares in the last quarter. Park National Corp OH boosted its position in shares of Atlassian by 4.0% during the 1st quarter. Park National Corp OH now owns 1,497 shares of the technology company’s stock worth $292,000 after purchasing an additional 58 shares in the last quarter. Financial Advocates Investment Management boosted its position in shares of Atlassian by 1.7% during the 2nd quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock worth $662,000 after purchasing an additional 62 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of Atlassian by 1.4% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock worth $890,000 after purchasing an additional 65 shares during the period. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Atlassian by 0.4% in the 1st quarter. Daiwa Securities Group Inc. now owns 19,544 shares of the technology company’s stock valued at $3,813,000 after purchasing an additional 72 shares in the last quarter. 93.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on TEAM. Barclays lowered their price target on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Morgan Stanley boosted their target price on shares of Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research note on Friday. Canaccord Genuity Group raised their price target on Atlassian from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday. Wells Fargo & Company lowered their price objective on Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. Finally, StockNews.com lowered Atlassian from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $216.29.

About Atlassian

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.